BTC/USD are trading at 9609 and continue to move as part of the growth and upward channel. Bitcoin cryptocurrency capitalization at the time of the publication of the forecast is $177 010 049 275. Moving averages indicate the presence of a short-term bullish trend for Bitcoin. Prices are testing the areas between the lines, which indicates pressure from the buyers of Digital Gold and the potential continuation of the rise in the value of the asset. As part of the cryptocurrency rate forecast for tomorrow, June 4, 2020, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the area of 9505. Where again we should expect a rebound and an attempt to continue to increase the Bitcoin rate with a target above the area of 11305.
Bitcoin Forecast and Analysis BTC/USD June 4, 2020
An additional signal in favor of the growth of BTC/USD quotes will be a test of the upward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option to increase the exchange rate and value of Bitcoin will be a fall in the value of the asset and a breakdown of the area of 8705. This will indicate a breakdown of the support area and a continuation of the fall of the Bitcoin rate with a potential target at the level of 8025. With the breakdown of the resistance area and the closure of cryptocurrency quotes above 10505, we should expect confirmation of the rise in the rate digital asset.
Bitcoin Forecast and Analysis BTC/USD June 4, 2020 implies an attempt to test the support level near the area of 9505. And then, the cryptocurrency will continue to grow with a potential target at 11305. An additional signal in favor of the Bitcoin appreciation will be the support line test on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the area of 8705. This will indicate a continued fall with a potential target below the area of 8025.
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